Medicare

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Medicare is a national social insurance program. All persons 65 years of age or older who have been legal residents of the United States are eligible for Medicare. People with disabilities under 65 may also be eligible if they receive Social Security Disability Insurance (SSDI) benefits. Specific medical conditions may also help people become eligible to enroll in Medicare. Medicare has four parts:

Part A is hospital insurance:

You usually don’t pay a monthly premium for Medicare 『Part A』 coverage if you or your spouse paid Medicare taxes while working and is accumulated up to 40 points of working credit.

Part A covers:

  1. Inpatient hospital stays
  2. Skilled nursing facility care
  3. Nursing home care
  4. Hospice
  5. Home health services

Part B is medical insurance:

You pay a premium each month for Medicare 『Part B』. Most people will pay the standard premium amount. However, if your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount, you may an Income Related Monthly Adjustment Amount (IRMAA). IRMAA is an extra charge added to your premium.

Part B covers:

  1. Ambulance Services
  2. Outpatient care
  3. Clinical research
  4. Medical supplies
  5. Preventive services

Part C is Medicare advanced health plans:

Medicare Advantage Plans, sometimes called “Part C, are approved by Medicare, but are run by private companies that include Health Maintenance Organizations (HMOs) or Preferred Provider Organizations (PPOs).. If you join a Medicare Advantage Plan, you still have Medicare. Medicare Advantage Plans cover all Medicare services. Medicare Advantage Plans may also offer extra coverage.

Part D is Medicare Prescription Drug Plan:

Medicare Part D is a voluntary prescription drug program for Medicare beneficiaries. Prescription drug plans are sold by private companies but must be approved by Medicare.

Please contact us at 626-291-2200 for more details.